10 Highest-Paying Monthly Dividend Stocks

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6. Ellington Residential Mortgage REIT (NYSE:EARN)

Dividend Yield as of November 23: 13.24%

Ellington Residential Mortgage REIT (NYSE:EARN) is an American real estate investment trust company that engages in the acquisition and management of residential mortgage and real estate-related assets. In the past month, the stock delivered a 13.08% return to shareholders, as of the close of November 22.

In Q3 2022, Ellington Residential Mortgage REIT (NYSE:EARN) reported a total net interest income of $5.1 million, which showed a 5.7% growth from the same period last year. Its adjusted distributable earnings for the quarter came in at $3 million. The company currently pays a monthly dividend of $0.08 per share for a dividend yield of 13.24%, as of November 23.

In October, Piper Sandler maintained an Overweight rating on Ellington Residential Mortgage REIT (NYSE:EARN) with an $8 price target, highlighting the company’s growth across all sectors over the past years.

The number of hedge funds tracked by Insider Monkey owning stakes in Ellington Residential Mortgage REIT (NYSE:EARN) grew to 7 in Q3 2022, from 5 in the previous quarter. The collective value of these stakes is nearly $7 million. Renaissance Technologies owned the largest stake in the company, worth nearly $3 million.

Follow Ellington Credit Co (NYSE:EARN)

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